Jefferies Downgrades Cooper-Standard Holdings Inc. (CPS) to Hold
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Jefferies downgraded Cooper-Standard Holdings Inc. (NYSE: CPS) from Buy to Hold and maintains a price target of $105.00 as NA market growth decelerates.
Analyst Bret Jordan commented, "While we believe CPS continues to push towards sustainable high single digit international margins, we believe plateauing US SAAR & challenging light truck production hurdles point to decelerating "core" segment growth through 2018. As such, we lower our '16 & '17 EPS ests. Given robust price performance YTD (+23% YTD vs. peers of -5%, S&P at +5%), we transition to a Hold rating as valuation appears "full". We maintain our PT of $105."
Shares of Cooper-Standard Holdings Inc. closed at $95.31 yesterday.
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